ANNUAL REPORT of GROUP CONTENTS
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ANNUAL REPORT of GROUP CONTENTS 2009 ANNUAL REPORT 02 Brief Introduction 04 10 Great Events in 2009 06 Address by Chairman of the Board of Directors 08 The Company's Governing General Manager's Work Report Organizational Structure The wholly owned enterprises, the holding enterprises and the 1st class shareholding enterprises of YUDEAN Group Party Construction Work Corporate Culture Human Resources 18 The Company's Performance Production Safety State of Operation Development and Construction 26 Enterprise Citizen Electric-power Output Green YUDEAN Paying Taxes Helping-the-poor Activities Public Benefit 30 The Company's Honors 32 Memorabilia Brief Introduction Guangdong Yudean Group Co., Ltd. is a young enterprise with a historic background of one century. YUDEAN's history can be traced back to the 1880s. In 1888, the first electric lamp was lit up in the government office of the governor of Liang Guang (Guangdong and Guangxi), and in 1890, some patriotic oversea Chinese set up the first electric light company of national capital of China in Guangzhou. On August 8, 2001, Guangdong Province took the lead in the electric power system reform, and set up Yudean Group on the foundation of the power generation business of the former Guangdong Electric Power Holding Company. The company's registered capital is 20 billion Yuan RMB. Its stock ownership is held by Guangdong Province' government and China Huaneng Group Co., Ltd., each holding 76% and 24% respectively. Its present number of staff members is 13000 odd. It is the largest and strongest power generation enterprise in Guangdong Province. Up to the end of 2009, the company's total assets in terminalterminal examination had amounted to 105.788 billion Yuan, the installed capacityy ooff its ffully-fundedully-funded power plants and plants in its stock controlling reached 19787.22 MW, in which there are 11 power plants with an installed capacity more than 1000MW. YUDEAN has 80-plus institutions either fully-funded or under its stockk controlling or in its stock participating, and its stock controlling also covers the listedted company, GuanGuangdonggdong Electric Power Development Co., Ltd.(GED). The company's industry covers many kinds of energy source, such as thermal power, hydroelectric power, wind power, nuclear power, LNG, biomass power and so on; its area covers Eastern, Western, Guangdong and the Pearl River Delta, and it is extending beyond the province and beyond the sea aggressively. In recent years, the company carried out its diversified development strategy actively, made great breakthroughs in many fields, such as coal, navigation, natural gas, finance, and equipment manufacture, tried its best to extend its industrial chain towards the upper and lower streams of the main work, and achieved a remarkable uplifting of its core value. The company has got excellent scores for eight years running in the examination of the state-owned responsibility of asset management of the province, ranked at No. 124 in the rating of the top 500 enterprises of China in 2009, and ranked at No. 8 in the top 100 enterprises of Guangdong Province in 2009. While providing safe, economical and reliable power to the society, YUDEAN is trying its best to fulfill its social responsibility, create green energy sources and realize a sustainable development of the company. In all its power plants, it carries out all-inclusive and all-process clean production, and reduces its pollutant emission indicators all the time. So far, the desulphurization facilities for generator units of 11870 MW has been completed and put into operation, the company has become the first power generation enterprise with all generating units having finished the desulfurizing process, which will reduce 280,000 ton sulfur dioxide discharge each year. Today's YUDEAN is just carrying out our development strategy "Taking Energy Source as the Core, Keeping Well-coordinated Development of Relevant Industries, Basing Ourselves upon Guangdong, Facing the Whole Country, Opening Up the International Market, and Build Up an Energy Source Group Company with International Competition Capability", adhering to our business philosophy of "Harmonious Cooperation and Growing Together, Keeping to Justice and Being Innovative" and the business mission of "Great Virtue, Great Power, Benefiting the Country and the People", realizing new leaps continually, and shining with even more dazzling splendor. 5JCTGJQNFGTUQH)WCPIFQPI;WFGCP)TQWR%Q.VF 87& Guangdong Province 35& People's Government China Huaneng Group 02 03 Great Events in 2009 Provincial Governor Huang Huahua Led His Team to Inspect YUDEAN, Highly Praising YUDEAN's Achievements and Its Outstanding Contributions 1 to the Province On January 12, 2009, Mr. Huang Huahua, vice secretary of Party Committee and provincial governor of Guangdong Province, and Huang Longyun, member of Party's standing committee and vice-governor of the province, led a team to inspect Yudean Group. They highly praised YUDEAN's great contributions to the province' economic development and financial construction since its establishment, especially its great achievements in economic benefit, environmental protection, and reform in the joint stock system. He encouraged YUDEAN to search after chances in the international financial crisis, and realize new leaps forward for the company. Successful Purchase of 20% Stock Ownership of North Electric Power Company 2 On April 20, 2009, the company and CITIC Pacific signed a contract to decide that YUDEAN would spend 1.98 billion Yuan to purchase 20% stock ownership of North United Electric Power Company, to become the second largest major shareholder of the largest power generation enterprise in Inner Mongolia. This action will not only further expand the company's development space outside the province, but also lay a good foundation for the company's construction of its upstream coal resource industrial chain and serve as a good supplement for the company's development of its main business, so as to become one of the important measures to optimize its industrial structure, strengthen its risk coping capacity and realize sustainable development. 3 Ranked at No. 124 in the Top 500 Chinese Enterprises in 2009, and Jumped to No. 8 in the Top 100 Enterprises of Guangdong On September 5, 2009, the list of Top 500 Chinese Enterprises of 2009 rated by China Enterprise Association and China Entrepreneurs Association was released officially, and YUDEAN ranked at No. 124 with its business income of 46.3 billion Yuan. Moreover, Yudean Group also jumped to No. 8 in the Top 100 Enterprises of Guangdong Province in 2009, advancing by 6 positions from the previous year. Signed Agreements for Long-run Coal Supply with Many Key Coal Enterprises, to Ensure Safe and Economical Coal Supply for the 4 Company In 2009, in order to strengthen the cooperation with state-owned key coal mines, the company signed 5-year long-term agreements with several key coal enterprises in succession, such as Shenhua, China National Coal Group Corp., Yitai, etc. In the import of coal, we signed a 3-year agreement with Russia for supply of 3 million ton coal, and signed a 3-year 11 million ton coal supply agreement with KPC Company of Indonesia. The signing of these agreements has not only ensured the company's safe and economical supply of fuel in the year 09, but also provided a strong guarantee for the company's stable and reliable supply of coal in the coming four years. Great Progress in Regulating the Employees' Investment and Share-holding 5 and in Deepening the Reform Up to the end of December 2009, 27 institutions under the company finished their first-stage work of regulating of the investment and share-holding of the employees of the power system of the state-owned enterprise and deepening of the reform, and got some initial achievements. Regulating of the investment and share-holding of the employees of the power system of the state-owned enterprise is a requirement from the upper national asset supervisory authorities, and also a need of Yudean Group in its struggle to become an energy source group with international competition capability. Successful Registration of Three CDM Projects of the First Batch In 2009, Huizhou and Qianwan LNG power plants' CDM projects got registered successfully one 6 after another, which has aroused a great attention from the CDM industry of the world. According to the relevant contract, the three projects together with Shibeishan Wind Power's CDM project, will bring net income continually for the related companies. The execution of the CDM project has reflected the fact that YUDEAN Group's contribution to slowdown of the global warming trend has been recognized internationally, and also shown that Yudean Group's operational philosophy of clean energy and harmonious environment is of profound and lasting social significance. Corporate Culture Propaganda Work Went Forward in a Profound Way In 2009, the company compiled its Corporate Culture Construction Program, which clarified 7 the guiding philosophy, execution principle, objective tasks, system guarantee and measures for each stage of the company's construction of its corporate culture. Meanwhile, it increased its efforts in the propaganda and training of the corporate culture, held two terms of training class for backbone leaders in corporate culture, and two terms of training class for high-leveled managerial personnel, attended by 105 high-leveled managers and 147 middle-leveled managers altogether. Each institution also carried out various activities to implement the corporate culture according to their actual condition. In Response to the Situation for Fuel and Energy Saving and Environmental Protection, We Started Up Several Great Projects, Such as Changing from Burning Anthracite to Burning Soft Coal, Reconstruction of the Generating Units for Increase of Capacity 8 According to the inland present status of the fuel market and the development trend, the company adjusted its policy timely, and started up the feasibility study on the changing from burning of anthracite to burning of soft coal for the power plants in Zhanjiang, Shaoguan, Yunfu, Luoding and other places.